The new functionality helps users discover, hold and swap tokenised assets that track the prices of various US equities and ETFs. According to the company, the aim is to enable users to gain exposure to these securities directly within the Trust Wallet app without needing a traditional brokerage account.
The tokens are issued by third-party providers, like Ondo Finance, through smart contracts designed to reflect the price of the underlying asset. To facilitate trading, Trust Wallet has integrated the 1inch Swap API.
In its announcement, Trust Wallet stated that the move is part of an effort to make global finance more open and accessible. The company reports a user base of over 200 million globally.
“Integrating RWAs into self-custodial wallets is an important step in making global finance more open and efficient,” said Eowyn Chen, CEO of Trust Wallet. “The bigger picture is how blockchain democratises access to financial markets and lays the foundation for a more inclusive future of finance.”
Ondo Finance, the initial partner for providing the tokenised assets, views the move as an expansion of on-chain capabilities for US securities.
Nathan Allman, founder and CEO of Ondo Finance, also said: “Ondo Global Markets is a breakthrough in financial access. Global investors can now access the largest selection of tokenised US stocks and ETFs onchain. We saw stablecoins export the U.S. dollar by bringing it onchain. Now, Ondo Global Markets is doing the same thing for US securities.”
Trust Wallet plans to expand the offering by adding more providers and blockchain networks in the future. The company stated that this initiative is part of its vision to build a ‘Web3 neo bank’, where users can access various financial tools, from DeFi to RWAs, in a self-custodial environment.
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